Vendome Shares Hold Steady, Focus Shifts to $205.6 Million Trust
Vendome Acquisition Corporation I stock was flat at $10.19 early Tuesday afternoon. Shares hovered near the usual cash trust price for SPACs waiting to announce a deal. As of 1:04 p.m. EDT, VNME was unchanged on the Nasdaq, according to StockAnalysis. That’s important now since Vendome is still a special purpose acquisition company, or SPAC—a listed shell company that raises cash first, then looks for a merger. For stocks like these, short-term focus stays on the trust account, redemption price, and the time the sponsor has left to make a deal, rather than sales or margins.